All residents are permitted to utilise up to USD 2,50,000 every fiscal year (April through March) 

any permitted current or capital account transaction, according to the Reserve Bank of India. 

The Liberalised Remittance Scheme, or LRS, specifies this cap.

The LRS limit may be used by a person for any type of overseas remittance, including international travel

The recent statistics shed light on a notable trend in utilising the LRS limit, revealing

 In the fiscal year 2022-23, between April and February, Indians expended a staggering $12.51 billion

 accounting for approximately 52% of the total outward remittances authorised under the LRS.

These figures indicate that we spend more than we earn from the tourism sector.